Momentous Wealth Management Inc. Takes $286,000 Position in JPMorgan Chase & Co. (NYSE:JPM)

Momentous Wealth Management Inc. purchased a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) during the 4th quarter, Holdings Channel.com reports. The firm purchased 1,193 shares of the financial services provider’s stock, valued at approximately $286,000. JPMorgan Chase & Co. comprises approximately 0.2% of Momentous Wealth Management Inc.’s investment portfolio, making the stock its 27th largest position.

A number of other hedge funds have also added to or reduced their stakes in JPM. Midwest Capital Advisors LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $43,000. Legacy Investment Solutions LLC bought a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter valued at approximately $45,000. Collier Financial acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $45,000. Lowe Wealth Advisors LLC increased its position in JPMorgan Chase & Co. by 34.0% during the 4th quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 51 shares in the last quarter. Finally, Kieckhefer Group LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at approximately $50,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Trading Down 2.1 %

Shares of JPM stock opened at $242.97 on Monday. The company has a market cap of $679.36 billion, a P/E ratio of 12.31, a PEG ratio of 2.83 and a beta of 1.10. JPMorgan Chase & Co. has a fifty-two week low of $179.20 and a fifty-two week high of $280.25. The stock has a 50 day simple moving average of $257.55 and a two-hundred day simple moving average of $240.77. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. The company had revenue of $42.77 billion for the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. JPMorgan Chase & Co.’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.04 EPS. Research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be paid a $1.40 dividend. The ex-dividend date is Friday, April 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 annualized dividend and a dividend yield of 2.30%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 28.37%.

Insider Activity at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 3,303 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total transaction of $838,763.82. Following the completion of the sale, the general counsel now owns 47,620 shares in the company, valued at $12,092,622.80. The trade was a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robin Leopold sold 1,250 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $270.09, for a total value of $337,612.50. Following the completion of the transaction, the insider now owns 50,377 shares in the company, valued at approximately $13,606,323.93. This represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,848 shares of company stock valued at $19,987,908 in the last three months. Corporate insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

JPM has been the subject of several research analyst reports. Bank of America upped their price target on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Piper Sandler upped their target price on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Baird R W raised JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. UBS Group upped their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Barclays lifted their target price on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average price target of $252.89.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.